• Ned Frisk/Corbis

    80 is the new 20

    Saving For The Second Adulthood

    Over-50 women are now enjoying a whole "Second Adulthood"—but may be woefully unprepared to finance it, says Gail Sheehy. Her roadmap for how to plan for the golden years.

    When you imagine the rest of your life after 50, do you see a boat, a sports car, a summer home, cruising the Amazon or climbing Kilimanjaro or finding a thatched cottage in the Caribbean to curl up and write your memoir?

    Have you also factored in the cost of a grown child’s wedding, the travel costs to see your scattered children and grandkids, and the grandbaby who turns four before you know it and will need about $10,000 for a good pre-K school? The question is not just how long do you want to work, but how long do you need to work? And I mean ‘need’ not just in the sense of financial need, but the need to have colleagues to talk to, phone calls to return, and the feeling of being valued.